Executive search and selection is a process in which the senior management positions of a company are filled through the recruitment of talented, qualified and career relevant individuals. Executive search and selection tends to be carried out by an in-company board of managerial figures or directors, but, is typically carried out by an executive search and selection company.
Executive search and selection companies are prone to working in segmented areas, typically those of business development, business recruitment and business research. The business development employee of the executive search and selection company is often the most well paid whilst the researcher is paid the least.
There are two types of executive search and selection companies. One of the executive search and selection companies is a global executive search and selection company, with many offices located over the world and with dealings in searching for high power positions in prolific companies, such as the ones based in the markets of consumer goods, technology and the media.
The other type of executive search and selection company are boutique companies, which are more specific to sectors and specific areas within those sectors, looking to fill lower positions within companies, with more focus placed upon the inner workings and minutiae of each of these companies and each of their clients. These boutique executive search and selection companies tend to house offices within the financial capitals of the world, such as London, New York and Hong Kong.
The executive search and selection process is paid for by the recruiting company as opposed to a potential employee recruiting a position within said company. Any potential recruits are identified, evaluated and presented to the company employing the services of the executive search and selection company, which saves a considerable amount of time and effort for the company itself. The research department of the executive search and selection company decides upon the recruits and, also, the recruits who would be best suited to the job.